Is your company currently on the hunt for reliable and flexible international banking options? Consider partnering with the bank in Dominica, which we highly recommend! The bank serves businesses by providing a wide range of valuable services. Inter alia, they set up corporate accounts in multiple currencies with favorable conditions.
The leading bank in Dominica
The highly recommended bank in Dominica has a solid track record of over five years in the banking industry. It has earned a reputation for being a stable and reliable financial partner. The bank’s corporate banking services are of superior quality. They include, inter alia, business financing, asset management, commercial lending, and merchant services.
Here’s why partnering with the Dominican bank is hugely advantageous for you:
- Capital Raising Support: The bank offers debt financing and financial advisory services.
- Offshore Banking Services: It successfully manages international financial commitments, facilitating business activities across different nations and regions.
- State-of-the-Art Digital Offerings: In the bank, you will enjoy convenient online banking solutions that allow you to manage your account from anywhere in the world.
- Non-Resident Inclusion: Account opening for non-residents is possible remotely, with video interviews substituting for physical presence.
The bank appeals to international clients who strive for reliable protection of their financial data.
Discuss the details with an expert
Check the list of required documents, and get the details of the process, terms, and costs.
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Unfortunately, the below jurisdictions are currently blacklisted and thus aren’t accepted by the bank as customers:
- Afghanistan
- Iran
- South Sudan
- Belarus
- Iraq
- Sudan
- Bosnia and Herzegovina
- Libya
- Syria
- Central African Republic
- Myanmar
- Democratic Republic of Congo
- Nicaragua
- Venezuela
- Cuba
- North Korea
- Yemen
- Eritrea
- Zimbabwe
- Ethiopia
- Somalia.
Deposit rates:
| Amount in USD or EUR | Term: 6 months | Term: 12 months | Term: 10 months | Term: 24 months |
| 25,000 to 100., 000 | 3% | 3.25% | 3.75% | |
| 100,000 to 500,000 | 4% | 4.25% | 4.50% | 4.75% |
| 500,000 to 1,000,000 | 5% | 5.25% | 5.50% | 5.75% |
| 1,000,000 and above | varies based on the deposit amount and term | varies based on the deposit amount and term | varies based on the deposit amount and term | varies based on the deposit amount and term |
Corporate account setup fees:
| One-off fee for opening a multi-currency account | USD 900 |
| Minimum initial base deposit | USD 25,000 |
| Minimum current balance | USD 25,000 |
| Monthly account maintenance fee | USD 100 |
| Minimum initial base deposit for Money Market Premium account | USD 50,000 |
| Minimum current balance for Money Market Premium account | USD 50,000 |
Bank fees and charges:
| Service | Cost |
| Account closure | 1% of the transfer amount |
| Bank transfer | USD 40 |
| Incoming EUR transfers* | EUR 40 per transfer |
| Incoming USD transfers** | USD 50 per transfer |
| Outgoing transfers (EUR, GBP, and CHF ***) | |
| 1,000 to 249,999.99 | EUR 150 |
| 250,000 to 999,999 | EUR 300 |
| 21,000,000 | EUR 0.15%, with a minimum fee of EUR 1,000 per transfer |
| Outgoing USD transfer | |
| 1,000 to 249,999.99 | USD 150 |
| 250,000 to 999,999 | USD 300 |
| 21,000,000 | USD 0.15%, with a minimum fee of USD 950 per transfer |
| SWIFT | USD 100 |
| Refunds | USD 100 per transaction |
*except for Money Market Premium accounts
**varies depending on the account category
***costs may vary depending on the particular amount.
Documents required to open a corporate bank account in Dominica
For a company to become a customer of the Dominican bank, it shall prepare and submit the documents listed below:
- TIN (Taxpayer Identification Number)
- Articles of Incorporation and Company Bylaws
- Certificate of Incorporation
- paid utility bills for the last 3 months
- bank reference letter
- completed bank application form.
If owners, directors, or other individuals are acting on behalf of the company under a power of attorney, they will have to submit some additional documents:
- notarized passport copy
- paid utility bills for the last 3 months
- bank reference letter.
You are welcome to convert these documents to PDF and email them to Q Wealth experts.
Set up a corporate bank account in Dominica: here’s how
Should your company choose to become a customer of the Dominican bank, you’re welcome to contact Q Wealth using any contacts available on our corporate website. Our seasoned experts will assist with preparing your documents and respond to any questions. We will also help you get ready for the video interview and provide any additional assistance as required.
